STORY FROM: Reinsurance & Arbitration

Conn. Federal Judge Refuses to Reconsider Confirmation of Clarified Arbitration Award

HARTFORD, Conn. — A Connecticut federal judge has refused to reconsider his confirmation of a clarified arbitration award that requires General Re Life Corp. to pay up to an additional $18 million in reinsurance proceeds to Lincoln National Life Insurance Co., explaining that the court lacks the authority to issue a judgment for a sum certain.

On July 18, Judge Victor Bolden of the U.S. District Court for the District of Connecticut said because the award does not provide for a sum certain, the court is unauthorized to enter judgment in a sum certain.

Gen Re reinsured various individual life ...

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